Republican presidential candidate Mitt Romney’s tax returns were released on Tuesday by his campaign and they revealed that he accrued $42.7 million over the past two years. In 2010, Romney and his wife, Ann, filed a joint 1040 that reported $21.7 million with $3 million in taxes and $21 million in 2011 with $3.2 million in taxes.
Romney owed 13.9 percent in federal income taxes, while some Americans in his wage bracket were paying the top 35 percent. Much of Romney’s income was derived from profits, dividends, and interest from investments. Romney estimates that he will pay about $3.2 million for 2011 with a 15.4 percentage rate.
